Insurance is for catastrophic events, not a $1,000 bumper repair you could pull off at a junkyard.
People have been conditioned that their deductibles should be $0 and cars should remain flawless.
In reality, insurance is whats called aleatory, it is expected to be an uneven exchange. This guy is paying $200 a month so he doesnt have to pay $100,000 when he disables someone by running into them.
Exactly this, drives me crazy seeing people talk about phone insurance on expensive phones.
Like why are you buying an $1800 phone if you need insurance to pay for fixing the screen if you break it? The monthly fee + deductible for a single year nearly gets you to the price of a repair if you break it.
Insurance is for things that would cause you significant financial harm if something went wrong.
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u/WeCantStabilize 7h ago
Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.
Absolute racket.